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| The Matthew Nichols Company budgeted sales of $200,000 for July, $280,000 for August, $198,000 for September and $200,000 for October. Approximately 75% of sales are on credit; the remainder are cash sales. Collection experience indicates that 60% of the budgeted credit sales will be collected the month after the sale, 36% will be collected the second month, and 4% will be uncollectible. The cash receipts budgeted for October equal A. $164,700 B. $200,000 C. $214,700 D. $244,400 |